The market place of the 21st century is evolving into one of merging national markets, fragmented consumer markets, and rapidly changing product technologies. These changes are driving firms to compete, simultaneously, along several different dimensions – design & development, manufacturing, distribution, communication, sales and others. Although manufacturing has not been utilised as a competitive weapon historically, the market place of the 21st century will demand that manufacturing assumes a crucial role in the new competitive arena. Moreover, progress in human society has been accomplished by the creation of new technologies. The last few years have witnessed unparalleled changes in technology throughout the world.
With this, advanced manufacturing technologies have become key enablers in modern manufacturing and play a significant role in increasing the efficiency, competitiveness and profitability of modern manufacturing enterprises.
